Media firm Kompas Gramedia has acquired Indonesia-based online media subscription service Scoop, one of its portfolio companies, for an undisclosed sum, Tech in Asia has reported.
Founded in 2011, Scoop allows users to subscribe to a range of newspapers and digital magazines through a single platform, and the company claims its app has been downloaded more than 6 million times.
Kompas invested $2.4m in Scoop’s Singapore-headquartered parent company, Apps Foundry, in 2013, after Mitsui Global Investment, a subsidiary of Japan-based conglomerate Mitsui, and venture capital firm Gobi Partners had provided $770,000 of funding in 2011.
The firm, which publishes several titles, had been in a partnership with Scoop since 2013 but the acquisition means the services will become more tightly integrated.